Weekly Investment Analysts’ Ratings Changes for Schlumberger (SLB)

Several brokerages have updated their recommendations and price targets on shares of Schlumberger (NYSE: SLB) in the last few weeks:

• 4/4/2024 – Schlumberger had its price target lowered by analysts at Barclays PLC from $74.00 to $70.00. They now have an “overweight” rating on the stock.
• 4/4/2024 – Schlumberger had its “buy” rating reaffirmed by analysts at HSBC Holdings plc. They now have a $71.00 price target on the stock.
• 4/3/2024 – Schlumberger had its price target raised by analysts at Royal Bank of Canada from $66.00 to $69.00. They now have an “outperform” rating on the stock.
• 4/3/2024 – Schlumberger had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $68.00 price target on the stock.
• 4/1/2024 – Schlumberger had its “buy” rating reaffirmed by analysts at The Goldman Sachs Group, Inc..
• 3/4/2024 – Schlumberger had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $68.00 price target on the stock.
• 2/13/2024 – Schlumberger had its “positive” rating reaffirmed by analysts at Susquehanna. They now have a $77.00 price target on the stock.
• 2/8/2024 – Schlumberger had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $66.00 price target on the stock.

Schlumberger Stock Up 1.4 %

Shares of NYSE:SLB opened at $55.03 on Monday. The company has a market capitalization of $78.55 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 0.99 and a beta of 1.60. Schlumberger Limited has a 12-month low of $42.73 and a 12-month high of $62.12. The business has a 50-day moving average price of $50.92 and a 200 day moving average price of $52.83. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 19th. The oil and gas company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The company had revenue of $8.99 billion for the quarter, compared to analyst estimates of $8.96 billion. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.71 EPS. Sell-side analysts expect that Schlumberger Limited will post 3.54 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Wednesday, February 7th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Tuesday, February 6th. Schlumberger’s dividend payout ratio (DPR) is presently 34.25%.

Insider Buying and Selling at Schlumberger

In related news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the completion of the sale, the chief financial officer now directly owns 249,182 shares of the company’s stock, valued at $13,151,825.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Schlumberger news, VP Kevin Fyfe sold 20,223 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $52.05, for a total transaction of $1,052,607.15. Following the completion of the sale, the vice president now directly owns 31,198 shares of the company’s stock, valued at approximately $1,623,855.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the completion of the transaction, the chief financial officer now owns 249,182 shares in the company, valued at $13,151,825.96. The disclosure for this sale can be found here. Insiders have sold a total of 172,191 shares of company stock worth $8,636,322 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Schlumberger by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 132,281,480 shares of the oil and gas company’s stock valued at $6,883,928,000 after acquiring an additional 1,753,108 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Schlumberger by 12.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,379,848 shares of the oil and gas company’s stock valued at $3,922,768,000 after purchasing an additional 8,617,971 shares during the period. Capital World Investors raised its stake in Schlumberger by 2.2% during the 4th quarter. Capital World Investors now owns 51,617,471 shares of the oil and gas company’s stock valued at $2,686,173,000 after purchasing an additional 1,133,686 shares during the last quarter. FMR LLC grew its position in Schlumberger by 1.1% during the third quarter. FMR LLC now owns 27,171,516 shares of the oil and gas company’s stock worth $1,584,099,000 after buying an additional 282,709 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Schlumberger by 1.6% during the first quarter. Geode Capital Management LLC now owns 25,347,967 shares of the oil and gas company’s stock valued at $1,241,319,000 after acquiring an additional 401,606 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.